- Analytics
- News and Tools
- Market News
- US: Philadelphia Fed Manufacturing Index falls to 2.6 in May vs. 16.0 expected
US: Philadelphia Fed Manufacturing Index falls to 2.6 in May vs. 16.0 expected
- Th Philly Fed manufacturing index came in well weaker than expected at 2.6 in May.
- The US dollar saw some monetary weakness with the DXY eyeing session lows in the 103.20s.
According to a report from the Federal Reserve Bank of Philadelphia released on Thursday, the headline Manufacturing Activity Index of the Manufacturing Business Outlook Survey slid to 2.6 in May from 17.6 in March. That was well below the expected decline to 16.0 and was the lowest reading since May 2020.
Subindices:
- Six-month Business Conditions fell to 2.5 from 8.2 in April, the lowest since December 2008.
- CAPEX fell to 9.6 from 19.9, its lowest since February 2016.
- Employment fell to 25.5 from 41.4, its lowest since May 2021.
- New Orders rose to 22.1 from 17.8.
- Prices Paid fell to 78.9 from 84.60.
Market Reaction
The buck saw some very minor weakness on the report, with the DXY eyeing a test of session lows around 103.20.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
